Risk Evaluation

Risk evaluation and socio-economic analysis involves the establishment of a qualitative or quantitative relationship between risks of exposure to a chemical and the socio-economic benefits (for example, economic or performance) of a chemical, involving the complex process of determining the significance of the identified hazards, exposures, and estimated risks to the system concerned or affected by the exposure, as well as the significance of the benefits brought about by the chemical.

Risk communication is the exchange of information about (health or environmental) risks among risk assessors, managers, news media, interested groups, and the general public and can be included in risk management.

The steps proposed to implement this sub-element are as follows:

1. Evaluation of the risk of the chemicals based on the risk assessment to determine an appropriate risk management measure to manage the identified risk through exposure control including assessment of the socio economic impact of the planned risk management measures.
2. Communicate with stakeholders on the risk assessment and the planned risk management measures and their socio economic impact. Consider the impact of the risk management measures already in place such as labelling of hazardous chemicals or existing limit values for the exposure of workers or limit values for releases to the environment.